How To Get The Most From Selling Your Silver
There are numerous reasons why someone would want to sell their silver bullion, kitchenware, coins, jewelry, or scrap. Getting the best possible prices is at the top of every seller’s mind. However, as with any other form of transaction, there are certain pitfalls one should avoid. For instance, you must vet the silver buyers you choose to sell to, which lowers the risk of falling pretty to unscrupulous dealers and con artists.
A little research will enable you to find credible silver buyers near you. And a few extra tips ensure you get adequately compensated for your silver’s true worth. Read on to find out what you can do to make the most from the sale of your silver.
Tips To Get The Most Cash From Selling Your Silver
- Learn the value of your silver
One of the grievous mistakes a seller can make is selling silver without first conducting a valuation. You will only choose the best offers when you know the worth of your merchandise. Keep in mind that it is only natural for most silver buyers to bring down the asking price.
You can DIY if you possess the technology and skill to carry out the valuation. Otherwise, consider hiring an expert who runs such services for accurate readings.
- Learn the scales
Typically, the weight of silver is vital when it comes to determining the price you sell at. In Southern California, ounces are the commonly used unit of measurement. In other regions, the weight will be stated in grams. Both weight and purity determine the value of your silver. Therefore, the heavier the piece, the higher the probability of a better price. So, learn the scales and know your weight.
- Know the current market prices
How much are different markets offering for silver at the moment? Knowing the current market prices guarantees that silver buyers do not understate the actual value of your ware.
- Find a reputable silver buyer
There are several places you can sell your silver. From silver exchanges to pawn shops, online and offline brokers, or directly to a willing buyer. But before you dispose of your silver, make sure you vet the buyer. Confirm whether they are adequately licensed in your state. Check reviews and testimonials to assess their customer services. And ask around for referrals from people who have transacted before with silver buyers. After you narrow down your search, compare bids from the buyers and pick the one with the best offer.
- Get an appraisal
If you are selling solely based on weight, consider having your antique or intricate silver jewelry appraised professionally before selling it to a buyer. Some designer or antique jewelry or silverware fetches higher prices as finished pieces rather than for its metal content.
For whatever reason you choose to sell, the tips aptly mentioned above are key to getting the best payout from silver buyers. You are better placed to quote fair asking prices, which ensures you get the most cash depending on your silver value.